Ultimately, Brooks served as the comptroller less than a year, from May 2020 to January 2021. At the OCC, Brooks established a reputation as a crypto-currency-friendly regulator, earning the nickname "CryptoComptroller."
Without a clear track record to assess long-term value, cryptocurrency rises and falls on an unpredictable demand cycle. And for individual investors, the challenge is “you really don’t know where supply and demand can end up,” Aliaga-Díaz says.
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SAN DIEGO (AP) — A Los Angeles man pleaded guilty Wednesday to participating in what prosecutors called a “textbook Ponzi scheme” that defrauded cryptocurrency investors worldwide of more than $2 billion.
Its value has now plummeted by 99.99%, said cryptocurrency data website CoinMarketCap.
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When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
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Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
Dow, at the time, simply could not come up with a good reason for the crypto’s insane performance. The only logical explanation: It’s a bubble. His views were especially prescient. He told Bloomberg this month that he made a profit twice due to this canny call.
Home Press Releases SafeMoon VS HUH Token: What Could $1000 Get You In Each Crypto? Press Releases SafeMoon VS HUH Token: What Could $1000 Get You In Each Crypto?
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.